Commonwealth Bank unit CommSec has agreed to pay a $20 million penalty for a series of âserious and unacceptableâ failures that lead to excessive fee charges, a court has heard.
Logistics company GetSwift and its directors are appealing a win for ASIC in the regulator’s case that alleged they breached their continuous disclosure obligations and engaged in misleading and deceptive conduct in the release of 22 ASX announcements.
A settlement in a shareholder class action against GetSwift has collapsed as the logistics company seeks to secure financing to keep it afloat and pay the final portion of the deal’s $1.5 million cash component.
A settlement agreement in a shareholder class action against GetSwift may be scrapped as the applicant seeks more information as to whether the logistics company is solvent or about to go under.
A judge has indicated he will approve the ‘very low’ GetSwift class action settlement because the company appeared to be broke, but the law firm behind the case has been pulled up by the court for a previous costs estimate that has blown out by $3 million.
A judge has ordered a class action against AMP to provide more detail in its case accusing the financial services firm of failing to disclose information to shareholders about allegedly misleading ASIC and charging clients fees for no service.
A judge has criticised a proposed settlement notice in a shareholder class action against GetSwift for failing to inform group members of how much they would receive from the “very light” settlement, which relies heavily on the logistics firm’s success after relocating out of Australia.
Logistics company GetSwift’s settlement of a shareholder class action will see group members share in $1.5 million cash plus access to further funds and revenue raised by the company over a three-year period.
The Commonwealth Bank of Australia has slammed an attempt by a class action to âtrawl throughâ its Chief Executive Officerâs emails in search of correspondence regarding it decision to rebate commissions grandfathered by the Future of Financial Advice reforms.
GetSwift has reached an agreement to settle a shareholder class action accusing the logistics company of misleading statements over contracts, avoiding a trial that was set to begin in two months.